year. we're talking marginal rates then so, that would be only on income above $400,000. by the way, mark, $370,000 a year is what puts you into the top 1% here. you're an economist. all those income levels, 250, 400, a million, flying around for raising rates, what in your opinion is the breakoff point at which raising rates would substantially hurt the economy? >> well, i mean, i think coming to a compromise, as you point out the president's 400 k, speaker boehner was million. my guess is they come to an agreement somewhere around $500,000. if that's the break point in the tax increase, i don't think that does significant damage to the economy. i think it's very helpful to raise enough revenue to address the balance that mohamed was talking about. and i do think that the chained cpi is also a very good way to go. it addresses some of the concerns about the entitlement programs and spending. it's a reasonable thing to do. and it's also a part of that balance that we need.